Zillow projects U.S. home prices will fall 0.9% between April 2025 and April 2026. It had previously said home prices would rise this year.

Zillow banned home listings from its platform if they’re listed for sale in private networks more than 24 hours before appearing on the MLS.

The housing affordability crunch has become massive in 2025, said Orphe Divounguy, senior economist at Zillow. Mortgage rates doubled in 2022, now sitting 109% higher than they were in 2019.

Dr. Orphe Divounguy, senior economist with Zillow's Economic Research team, talks about what’s on the horizon for the housing market.

Zillow said there were 1.36 million homes for sale last month, the most since November 2019. And the sellers’ market that has dominated since the pandemic is transitioning to a balanced, or neutral, ...